SaverOne Announces $1.5 Million Registered Direct Offering

Core Viewpoint - SaverOne 2014 Ltd. has announced a registered direct offering of 2,171,433 American Depositary Shares (ADSs) at a price of $0.70 per ADS, along with a concurrent private placement of short-term warrants to purchase up to 4,342,866 ADSs at an exercise price of $0.80 per ADS [1][2] Group 1: Offering Details - The total gross proceeds from the offering are expected to be $1.5 million before deducting fees and expenses [2] - The closing of the offering is anticipated to occur on or about January 31, 2025, subject to customary closing conditions [1] - The ADSs are being offered under a "shelf" registration statement that became effective on September 27, 2023 [3] Group 2: Use of Proceeds - The net proceeds from the offering are intended for working capital and other general corporate purposes [2] Group 3: Warrant Information - The short-term warrants will become exercisable upon shareholder approval to increase the number of authorized ordinary shares and will expire twenty-four months after issuance [1] - The short-term warrants and the underlying ADSs have not been registered under the Securities Act, and a registration statement will be filed within 45 days of the offering's closing [4] Group 4: Company Overview - SaverOne is a technology company focused on developing solutions to reduce vehicle accidents, particularly those caused by mobile phone distractions while driving [6][7] - The company is also working on a sensor system for detecting vulnerable road users through their cellphone footprint [7]